NOTE 13 – SUBSEQUENT EVENTS

6 Months Ended

Jun. 30, 2022

Subsequent Events [Abstract]

NOTE 13 – SUBSEQUENT EVENTS

NOTE 13 – SUBSEQUENT EVENTS

On July 20, 2022 the Board of Directors of Salisbury approved a quarterly cash dividend of $0.16 per common share is payable on August 26, 2022 to shareholders of record as of August 12, 2022.

In July 2022, Salisbury management discovered that the Bank’s trust department terminated a trust account in May 2020 and distributed approximately $1.0 million that should have been retained in continuance of the trust account. Salisbury is currently evaluating the Company’s potential financial exposure. At this time, management believes that Salisbury’s exposure is not yet known or knowable and could potentially range from zero to approximately $1.0 million depending upon the facts and circumstances and the scope of Salisbury’s insurance coverage. Salisbury has engaged legal counsel to advise the Company with respect to the proper actions to be taken to address this matter.